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Anticipating seeing the directors buying in the coming days. They are normally quick to gobble up any weakness in the price
Afternoon MS. Yes, I added too today.
Added to a few royalty positions across the pond too.
From a TRR point of view, the volatile gold price will be very good for their offtakes
TRR has protected its position including if warranted termination of Sale and Purchase Agreement.
The conditions requiring Trident to provide funding in respect of Sonoroy to enable it to Complete the Acquisition Remain at Trident's Discretion and includes a provision that at the time of funding, no changes in Mexico's regulatory regime materially affects the Sonora project and that the litigation by Bacanora is favourably resolved for the Estate. If Trident Elects to Exit the Joint Venture, the Repayment date of an initial Loan Made By Trident to Sonoroy of $2.5 million is Due Six Months from Notification of Termination of the Sale and Purchase Agreement or Joint Venture Agreement.
Trident Royalties has 9 Paying Gold mining assets with Gold back above $2000 oz & at time of writing gold stands at $2014.70c up $32.20 on day. Our company is making cash. I bought more shares today. I am not a day trader. DYOR people.
No impact on TRR whatsoever.
As Cacher said. "it's all systems go at Thacker Pass, and that's a company maker for Trident in itself". which started Construction in march 2023.
Thacker Pass is targeting 80,000 tonnes per annum ("tpa") of battery-quality lithium carbonate ("Li2CO3") production capacity in two phases of 40,000 tpa, respectively ("Phase 1" and "Phase 2"). Phase 1 production is expected to commence in the second half of 2026.
Trident holds a 60% interest in a gross revenue royalty over the entirety of Thacker Pass. Assuming LAC exercises the partial royalty buy-back (US$13.2 million attributable to Trident), then Trident will retain the equivalent of a (net) 1.05% gross revenue royalty.
https://www.lithiumamericas.com/usa/thacker-pass/
The conditions requiring Trident to provide funding in respect of Sonoroy to enable it to complete the acquistion remain at Trident's discretion and includes a provision that at the time of funding, no changes in Mexico's regulatory regime materially affects the Sonora project and that the litigation by Bacanora is favourably resolved for the Estate. If Trident elects to exit the joint venture, the repayment date of an initial loan made by Trident to Sonoroy of $2.5 million is due six months from notification of termination of the Sale and Purchase Agreement or Joint Venture Agreement.
On 27 January 2022, Trident announced that Sonoroy, a 50%-held joint venture between Trident and Marmottes Capital Limited, entered into an agreement to acquire a 3.0% Gross Revenue Royalty (1.5% attributable to Trident) over the Sonora Lithium Project from the Estate. In accordance with the terms of the agreement, the long-stop date to complete the acquisition of the royalty is the earlier of 31 January 2025, or the date which is 6 months after the first Royalty payment.
This relates to a legal point:
“ This decision relates to a specific point of law and no determination has been made in relation to the merits of the underlying claim. The case will now be referred back to the Court of King's Bench of Alberta to consider the merits of the claim and they will determine the timetable for this process and the timing for future hearings. Bacanora alleges that Mr. Orr-Ewing obtained the Sonora Royalty either by misrepresentation or without consideration. The Estate disputes the allegations and intends to rigorously defend itself in the action.”
Also:
“ The conditions requiring Trident to provide funding in respect of Sonoroy to enable it to complete the acquistion remain at Trident's discretion and includes a provision that at the time of funding, no changes in Mexico's regulatory regime materially affects the Sonora project and that the litigation by Bacanora is favourably resolved for the Estate. If Trident elects to exit the joint venture, the repayment date of an initial loan made by Trident to Sonoroy of $2.5 million is due six months from notification of termination of the Sale and Purchase Agreement or Joint Venture Agreement.”
Today’s reaction is ridiculous and should correct quickly once investors read and understand the RNS. I am sure the company will be giving an interview to explain this.
This was posted on the KDNC board
From a post by @MajorOak #ALK
As Chile moves ahead to nationalise its lithium industry, President & CEO of Piedmont Lithium reiterates the need for more lithium mining capacity in U.S. Certainly keeps the pressure on Mexico to bring Sonora to the market ASAP.
https://t.co/mjPYoUkyfo
We currently in the US produce around 20,000 tons of lithium hydroxide refined in the US. We think we need over 700,000 by the second half of this decade. So, 35 times more," Keith Phillips, CEO of Piedmont Lithium, whose customers include Tesla and LG Chem, told Yahoo Finance in an interview.
"All of this is a little more future facing — and the question I think is — where is all the material going to come from?"
https://finance.yahoo.com/news/elon-musk-urges-entrepreneurs-please-refine-lithium-as-evs-face-choke-point-150024552.html
Yup. They didn’t get anything in the share price when first announced and its still there as option value. Would have been a great catalyst if the case had gone the right way but now it’ll go to full trial to confirm the royalty one way or the other. And by then the asset will hopefully be in production. Lots of upside and very little downside through the option arrangement.
The entire Mexico/lithium/Sonora situation is messy. It was a great opportunistic move from TRR to put themselves in a position to pick up a royalty on Sonora, but there's no obligation on them to move forward if/when the opportunity arises.
This one looks like a no-go to me. Fortunately it's all systems go at Thacker Pass, and that's a company maker for Trident in itself
Looks messy !
Sonora lithium...TRR & its terms of funding to Sonoroy have also been changed to include a provision over material changes in Mexico's regulatory regime that might affect Sonora.
The repayment date for Trident’s initial US$2.5mln loan deposit to Sonoroy will also now be extended to six months under certain circumstances, the statement said, including if it elects to exit the joint venture.
Sonoroy has the right to acquire the Sonora royalty for a total consideration of US$52mln in cash (US$26mln attributable to Trident).
Bacanora was acquired by Chinese metal giant Ganfeng late last year.
Broker Liberum added: "The long-stop date of the Sonora royalty has been extended to Jan 2025, which delays the need to fund the option by two years.
"A Provision has been added, Protecting Trident from Material Changes in the Regulatory Regime of Mexico. These changes Further De-Risk this Option, Purchased in January .
IMO only of course. I think TRR has well and truly financially protected its self on this deal in Mexico. DYOR people.
We already have a world leading deal on Thacker Pass Lithium Mine. Nevada USA. Which is now in construction.
51.90p + are buys but show as sells. IMO of course & DYOR.
Worth a read
https://www.nature.com/articles/d41586-023-00978-2.pdf?pdf=button%20sticky
https://www.wsj.com/articles/net-zero-will-mean-a-mining-boom-electric-cars-minerals-oil-fossil-fuels-climate-change-policy-cb8d5137
California made a stunning decision last year—that by 2035 all new cars sold in the state must have at least 2½ times as much copper as conventional cars today.
Sugar Zone Offtake...Silver Lake Resource...Canada...Gold ... In Production. Trident owns an offtake for 50% of the gold produced at Silver Lake Resources’ Sugar Zone Gold Mine up to 375,000 delivered ounces.
Equinox Gold Los Filos... Offtake...Equinox Gold...Mexico...Gold...In Production. Trident owns an off-take for 50% of the gold produced at Equinox Gold’s Los Filos Gold Mine up to 1,100,000 delivered ounces.
Equinox Gold RDM... Offtake...Equinox Gold...Brazil...Gold...In Production. Trident owns an offtake for 35% of the gold produced at Equinox Gold’s Santa Luz, Riacho Dos Machados (“RDM”), and Fazenda Mines up to 658,333 delivered ounces.
Allied Gold... Offtake...Allied Gold...Africa...Gold...In Production. Trident owns an offtake for 50% of the gold produced at Allied Gold’s Bonikro Mine with no production or time cap on delivered ounces.
Blyvoor Gold... Offtake...Blyvoor Gold...South Africa...Gold. In Production. Trident owns an offtake for 100% of the gold produced, less any applicable streams, at Blyvoor Gold’s Blyvoor Gold Mine up to 2,700,000 million delivered ounces.
Victoria Gold ...Offtake...Victoria Gold...Canada...Gold...In Production. Trident owns an offtake for 25% of the gold produced at Victoria Gold’s Eagle Gold Mine up to 1,111,500 million delivered ounces.
Equinox Gold... Fazenda Offtake...Equinox Gold...Brazil...Gold...In Production. Trident owns an offtake for 35% of the gold produced at Equinox Gold’s Santa Luz, Riado Dos Machados (“RDM”), and Fazenda Mines up to 658,333 delivered ounces.
Koolyanobbing Iron Ore Royalty... Mineral Resources (ASX:MIN)... Australia... Iron ore... In Production. Trident owns a 1.5% free on board (“FOB”) revenue royalty covering part of the producing Koolyanobbing Iron Ore Operation in Western Australia.
Mimbula Copper Royalty... Moxico Resources Plc (Private) ...Zambia... Copper...In Production. Trident owns a 1.25% Gross Revenue Royalty (“GRR”) over all copper produced from the Mimbula Mine in Zambia, which is operated by Moxico Resources Plc.
Kwale Mineral Sands... Royalty...Base Resources... Kenya...Mineral Sands...In Production. Trident owns a 0.25% free on board (“FOB”) revenue royalty over the producing Kwale Mineral Sands Project in Kenya.
not US trades at all that i can see, its a secret